Entity Regulated and Supervised by the Panama Securities Commission. Licence to operate as an Investment Adviser. Resolution SMV N° .487-2013 , 25 de noviembre de 2013. Investors are responsible for observing all of the laws applicable and in effect in the countries where they reside, particularly those related to the sale and purchase of securities, the payment of any and all taxes (transfer or surplus taxes, among others), as may be required in such territory.